His successor will preside over the process
As Macau gears up for the retender of its gaming concessions, SAR Chief Executive Chui Sai On promises an “absolutely transparent” process.
“Two of the gaming concessions will expire in 2020, and four will expire in 2022. We will carry out the tender before 2022,” Chui said. “Concerning the two concessions that will expire earlier, we are currently considering how to manage it. We are undertaking the relevant work. We will publicize them in due time. Regarding the legal basis, we will openly and transparently inform the public about it.”
He noted that his term ends in December 2019, so he will not be on hand to complete the process. “I cannot answer questions concerning issues after my term. I can only do the preparation work,” said Chui.
According to the Macau Daily Times, Chui said much of the work associated with the retender has already been done in a mid-term review. He noted that the number of gaming tables will continue to be strictly limited and junket oversight will be strengthened. He also said the jurisdiction will continue to develop its non-gaming sector, with more entertainment and a stronger emphasis on MICE.
At least one investor is getting nervous about the lack of information about the process of concession renewal. GGRAsia reports that U.S.-based brokerage Telsey Advisory Group is becoming concerned.
“In last year’s policy address, Mr Chui had suggested that mid-2018 would be an appropriate time to address this issue,” said Brian McGill and Alec Cummings in a note to investors. “Moreover, last year the Macau government commissioned two studies on the gaming industry concession renewals, both of which were expected to be completed by the third quarter of 2018.
“We are obviously not in the third quarter anymore, and we are well past ‘mid-2018′. Given this, and considering the current geopolitical tensions between the United States and China, we are watching this situation closely.”
As for his successor, Chui said, “This government hopes to try its best to elect the new CE according to the relevant laws next year. To date, nobody has approached me, and I really don’t know who the next CE will be. I believe the CE will be elected according to the law.”
